The agreement was signed by EuroAfrica Interconnector CEO Nasos Ktorides and Sabah Mohamed Mashal, head of the Egyptian Electricity Transmission Company.
The agreement follows the conclusion of viability studies conducted by the EuroAfrica Interconnector which showed the benefits of the project, as well as its maturity, allowing it to enter the implementation stage.
It provides for the development of an electricity interconnection with the use of subsea high-voltage direct current (HVDC) cables with the capacity to transmit 2,000MW.
The agreement provides for the interconnection to be completed in two phases, the first being for the transmission capacity of 1,000MW which will be implemented within the timeframes and assurances provided to Egyptian President Abdel Fattah el-Sisi.
In June 2018, El-Sisi declared his full support and hailed the strategic relations between Egypt and Cyprus in all fields and highlighted the implementation of several major electricity infrastructure projects which reinforce Egypt as an energy hub between Africa, Arab countries and a major electricity provider to Europe through Cyprus
“Today, with the historic signing agreement between EuroAfrica Interconnector and the Egyptian authorities, the first major electricity interconnection project linking Africa with Europe has been realised,” Cyprus’ former foreign minister Ioannis Kasoulides said after the signing. Kasoulides is chairman of the strategic council of the EuroAfrica Interconnector.
“Cyprus now becomes a major hub for the transmission of electricity from Africa to Europe, and Egypt establishes itself as a regional energy hub for the transmission of electricity from Africa to the Arabian Peninsula.”
Egyptian Minister of Electricity Mohamed Shaker El-Markabi expressed his full support for the EuroAfrica Interconnector, adding that the agreement was the start of the project that will achieve social, economic and political benefits for the countries concerned.
Source: Cyprus Mail